CORPORATE GOVERNANCE ii. Findings of the CRM 72. Corruption and rent seeking are major concerns in Ghana. The private sector is widely perceived to lack corporate integrity. Lack of resources and capacity limits the effectiveness of oversight and enforcement mechanisms. Weak financial and investigative journalism also hampers the enforcement of good business ethics. iii. Recommendations 73. The Panel recommends that Ghana: ? Enhance the human and institutional capacity of institutions for supervision and enforcement (including the SEC, RGD, EPA, SFO, CHRAJ, and the Auditor-General's Department). These bodies are resource constrained and find it difficult to meet the supervisory and enforcement obligations arising from an expanded financial and private sector. ? Enact the draft Anti-Money Laundering Bill and the Whistle Blower's Bill. ? Train journalists in order to enhance their investigative and financial reporting abilities, enable them to practise responsible journalism and to serve the public interest better. Objective 4: Ensure that corporations treat all their stakeholders (shareholders, employees, communities, suppliers and customers) in a fair and just manner i. Self-assessment 74. The Companies Code of 1963, the Securities Industry Law of 1993 as amended, and the regulations of the GSE recognise all categories of shareholders. No distinction is made between foreign and domestic shareholders in shareholder rights under the law, except that foreign holdings in listed companies are subject to ownership thresholds based on exchange control restrictions. Minority shareholders are afforded the opportunity of obtaining effective redress of violation of their rights under the Companies Code. All shares issued, unless otherwise specified, rank pari passu with other shares of the same class in issue, and in the case of ordinary shares, one share carries one vote. 75. The CSAR also lists other legislation that provides for the protection of the rights and powers of all classes of shareholders. These include the Constitution of Ghana, 107